possibly defaultings circumstance with the debt ceiling. and part of the reason why some have suggested that the debt ceiling is problematic and our need to raise it is problematic. it's because of a misconsumption as it relates to the debt ceiling represents. isn't it a backwards looking vehicle that gives the administration the opportunity to pay for bills that have already been encouraged. >> that's correct. most of the obligation that have been incurred or many obligation relate to policy and decisions that were made during the eight years of prior administration. that would include the tax cut. >> absolutely. >> and include the prescription drug benefit. conclude the entered to as it relates to iraq weapons of mass destruction that never found. >> all spending authorized by congress is included. and the spending you have described is all part of what is being covered. >> based on your experiences in clinton administration, it would be fair to say that perhaps the best strategy in order to deal with the debt problem as well as the defic